The Government Efficiency Department (DOGE), named after the Dogecoin symbol, attempted bureaucratic reform through internet meme culture. Its early performance was remarkable, but it ultimately faded silently within 294 days. Although it claimed to save $160 billion in expenses, the actual results fell significantly short and triggered multiple lawsuits. DOGE's attempt, though unsuccessful, demonstrated the potential of symbolic economy in the political arena, but also emphasized the importance of practical effectiveness.

Solana confirms its Chinese name "索拉拉," symbolizing the spirit of creators and aligning with the rise of Chinese memes. This rebranding is not only a localization of the brand but also demonstrates the importance of Chinese users in the global crypto ecosystem, reflecting a shift in Web3 cultural integration. Understanding local culture has become key to the success of projects.

The article analyzes the current bear market situation, highlighting reduced market liquidity and the crisis in the altcoin ecosystem. MEME tokens fail to achieve long-term value, exchanges face threats from new tools, and the entire industry is in trouble with severe talent loss. The author emphasizes the need for technology-driven innovation to reshape industry value.

These past few days, the most frequently asked question has been: What are the $PING and $PAYAI projects doing? Instead of pumping the price, they are actually messing around—one is a MEME coin trying to launch a Launchpad platform, and the other is a utility token attempting to migrate and swap pools. Both seem to be heading towards abandoning their projects. It’s truly baffling.
Honestly, in this environment, no one has much confidence. I’ll share some observations that are easier to understand.
First point: These two actions are actually quite reasonable.
With a better market fundamentals, these operations would definitely be considered positive. The problem is—MEME coins’ biggest weakness is the lack of a sustainable empowerment mechanism, relying solely on consensus and sentiment. Utility projects have a low ceiling and relatively low technical barriers, which leads to both projects currently lacking the "confidence" support.
Recently, the actions of $PING and $PAYAI are actually about addressing their own shortcomings. $PING is trying to...

In the past two weeks, a term has been sweeping through the crypto community—a Chinese token has been listed on a major centralized exchange's perpetual contract for the first time. For any industry practitioner, this is not just a technical event; it represents a collective voice from the entire Eastern crypto ecosystem.
The origin of this story begins with a joke. An accidental reply from an executive at an exchange unexpectedly ignited the entire community. Subsequently, Chinese tickers like Binance Life and Cultivation Coin appeared one after another, and even other blockchains followed suit by launching their own Chinese versions. How hot was this wave? Even founders jumped in to participate in discussions, eventually escalating into a public opinion battle over listing rules.
Western Investors' Dilemma: Unfamiliar Market Trends
According to the recollection of a seasoned Polish trader, all of this came quite suddenly. He manages a European community of hundreds of members, watching as a Chinese token's market cap skyrocketed from $20 million to $100 million, and the entire...

Another Carnival During the Holidays
A few days before Golden Week, while the stock market was closed and tourists flocked to scenic spots, a completely different story was unfolding on crypto exchanges. Several obscure Meme coins saw their market caps multiply dozens of times in just a few days. Meme4, PALU, and various creatively named tokens—these seemingly joke tokens—caused some early investors to see their accounts jump by over a million dollars. The community exploded with excitement, with KOLs enthusiastically sharing and reposting as if they had discovered a printing press.
But the excitement didn't last long. Starting October 9, this wave of coins collectively turned downward. The decline was shocking—some plummeted 95% in a single day, over a hundred thousand traders were liquidated overnight, with total losses reaching $621 million.
Stories of overnight riches quickly turned into the most heartbreaking loss records.
This scene is actually not unfamiliar.
From Wall Street to the crypto world, the logic is changing.

Solana officially confirms the Chinese name "索拉拉," sparking discussions in the crypto community and reflecting its trend of cultural localization. In recent years, Chinese users' influence in the crypto market has increased, and Chinese memes have gradually become a new language in global crypto culture. This move is not only about brand localization but also reflects Solana's commitment to integrating into diverse cultures, demonstrating the importance of understanding local culture.